Latest news with #TopsFriendlyMarkets
Reuters
6 days ago
- Business
- Reuters
Owner of Price Chopper and Tops Friendly Markets explores sale, sources say
NEW YORK, Aug 4 (Reuters) - Northeast Grocery, Inc., the parent company of Price Chopper and Tops Friendly Markets, is exploring a sale, according to three people familiar with the matter. The company is working with investment bank UBS on the sale process, which is attracting interest from private equity firms and other grocers, the people said, asking not to be named since the sale is private. The Schenectady, New York-based company operates nearly 300 stores across New York, Massachusetts, Vermont, Connecticut, Pennsylvania, and New Hampshire. Northeast Grocery, which was formed in 2021 through the merger of regional chains Price Chopper - Market 32 and Tops, could fetch a valuation of over $1 billion, including debt, the people said. It generates almost $250 million of annual earnings before interest, taxes, depreciation and amortization, they said. "In building on the strength of our 2021 merger, Northeast Grocery, Inc. remains focused on offering quality products at a strong value and providing exceptional customer service across its six-state footprint," a spokesperson for Northeast Grocery said. "We continually explore opportunities to grow our business in a variety of ways, including but not limited to mergers, acquisitions or otherwise. Any further characterizations at this point would be purely speculative." UBS declined to comment. The Golub family founded Price Chopper in 1932 in New York. Tops, founded in 1962, was also launched by a family in New York before going through a series of ownership changes. It filed for bankruptcy in 2018 and emerged later that year. When the chains merged a few years ago, they said the increased scale would make them a more competitive company.
Yahoo
6 days ago
- Business
- Yahoo
Owner of Price Chopper and Tops Friendly Markets explores sale, sources say
By Abigail Summerville NEW YORK (Reuters) -Northeast Grocery, Inc., the parent company of Price Chopper and Tops Friendly Markets, is exploring a sale, according to three people familiar with the matter. The company is working with investment bank UBS on the sale process, which is attracting interest from private equity firms and other grocers, the people said, asking not to be named since the sale is private. The Schenectady, New York-based company operates nearly 300 stores across New York, Massachusetts, Vermont, Connecticut, Pennsylvania, and New Hampshire. Northeast Grocery, which was formed in 2021 through the merger of regional chains Price Chopper - Market 32 and Tops, could fetch a valuation of over $1 billion, including debt, the people said. It generates almost $250 million of annual earnings before interest, taxes, depreciation and amortization, they said. "In building on the strength of our 2021 merger, Northeast Grocery, Inc. remains focused on offering quality products at a strong value and providing exceptional customer service across its six-state footprint," a spokesperson for Northeast Grocery said. "We continually explore opportunities to grow our business in a variety of ways, including but not limited to mergers, acquisitions or otherwise. Any further characterizations at this point would be purely speculative." UBS declined to comment. The Golub family founded Price Chopper in 1932 in New York. Tops, founded in 1962, was also launched by a family in New York before going through a series of ownership changes. It filed for bankruptcy in 2018 and emerged later that year. When the chains merged a few years ago, they said the increased scale would make them a more competitive company. Sign in to access your portfolio
Epoch Times
26-07-2025
- Epoch Times
Appeals Court Tosses Lawsuit Against Social Media Companies Over 2022 Buffalo Shooting
A New York appellate court on July 25 dismissed a lawsuit filed against Meta, Google, and several other social media and Internet-based companies, in connection with the 2022 mass shooting at a grocery store in Buffalo, New York. The mass shooting at Tops Friendly Markets in Buffalo on May 14, 2022, left 10 people dead and three injured. Police arrested Payton Gendron, an 18-year-old white man, who, in November 2022, pleaded guilty to murder and hate-motivated terrorism charges. Gendron apologized for the attack.
Yahoo
22-04-2025
- Business
- Yahoo
Tops Friendly Markets invests $4.4m in New York store renovations
US-based supermarket chain Tops Friendly Markets has disclosed plans to invest a total of $4.4m in the refurbishment of two of its New York (NY) locations. The company is allocating $2.25m to revamp its 62,000ft² Fayetteville outlet while the 41,000ft² Manlius store will see a $2.15m upgrade. The renovation efforts will incorporate a new interior design and the installation of brand-new flooring across both stores. Additional updates include the introduction of user-friendly self-checkout stations, improved LED lighting and restrooms, an enlarged Deli and Carry Out Café, and a revamped Bakery section with a broader range of frozen products. Furthermore, the stores will offer a specialised Healthy Hydration section, new shopping carts, and an expanded selection of Health and Natural Organics products. The refurbishment is expected to be finalised between late summer and early autumn. Tops Friendly Markets president Ron Ferri said: 'We're proud to invest in these remodels that will bring an updated, more convenient, and enjoyable shopping experience to our customers. These enhancements are designed with our shoppers in mind, offering more fresh food options, time-saving amenities, and a more modern environment overall.' Headquartered in Williamsville, Tops Friendly Markets operates 152 grocery stores across New York, Pennsylvania, and Vermont, including one franchise, and has 14,000 employees. Last month, the retailer unveiled intentions to inaugurate a new outlet at a former ShopRite site in Ellenville. This 46,750ft² location is set to undergo a comprehensive $2m renovation, with plans to open in mid-June. "Tops Friendly Markets invests $4.4m in New York store renovations" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-02-2025
- General
- Yahoo
TAKE 5 ticket worth over $28k sold in Batavia
ROCHESTER, N.Y. (WROC) — A winning TAKE 5 lottery ticket was purchased in Batavia, according to the New York State Lottery. The top-prize-winning ticket, worth $28,737.50, was bought at the Tops Friendly Markets on West Main Street. The ticket was for the Sunday night drawing. The most recent winning ticket purchased in the area was in Avon and Fairport last January. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
